Also Ask for More Money

In my all about asking post this morning, there was this comment that I wanted to be sure you all saw:

I'm looking for a job and I received a verbal offer that I am seriously considering. I asked my potential future boss if he'd throw in a signing bonus, understanding that this would be at his discretion. He ended up adding a signing bonus of $20,000. Not bad for 5 minutes of work.

The funny thing was that it was just an impulsive ask. Nothing ventured, nothing gained I suppose.

Holy cow, I suppose so! Not only is asking for a discount a good idea, but it never hurts when you're negotiating a salary either (as long as you do it in a kind, respectful manner.) The worst they can say is "no", but you never know -- maybe they'll come back with a $20,000 bonus!

Comments

[Rich]

This happens alot and it really depends on what you bring to the table. He probably did a good job at understanding the managers need and supplying the skill sets and history to meet the need. Throwing in a $20K bonus is small change if it guarentees closing the deal and getting a good employee. Try asking for a salary $20K higher and you might get push back. Know what you are worth, ie salary.com. This gives you more negotiating power when you can justify a salary based on data. Most managers do not know what a position is worth, they know what they can afford in their budget.

[Mr. ToughMoneyLove]

It kinda makes you wonder why nothing was said about a signing bonus when the offer was made? If the money was less important than getting the prospect hired, why keep $20k in your back pocket? Many candidates would expect to be given a complete offer and may move on to another opportunity without asking for the bonus. In our business, this would never happen. Very strange hiring environment if you ask me.

[Ken.H]

My company often goes to recruiters in order to get people. The fees can easily be $20k if the recruiter fills the position...on top of the salary for the employee. If you aren't going through a recruiter to get a new job, the company may be saving a bunch of money. I'm sure give a portion of that to the employee in a signing bonus would be better to the company. So ask away!

[Kevin]

I used payscale.com for my research into what I should be paid for my review last week. Fortunately, my company offered in the range of what I wanted (12% raise, I wanted at least 10% and was going to ask for 15%), so I didn't even have to use my research to convince them what I wanted was reasonable.

[Irina at mylifeandart.typepad.com]

This is something I am working on myself. "Asking" is a great tool for just about anything and it is so under-used!

Since I am self-employed, I don't need to ask for a salary. But I have plenty opportunities to gain by asking. I do have to ask for an order when I talk to my customers, I do have to ask for referrals, discounts from suppliers and on and on...

I know right now, if I feel like I need more bookings for my entertainment business, all I have to do is to e-mail 10 past customers and just ask. And viola! I got more business. Works every time!

[Trent D.]

There are definitely "wrong" ways to approach the salary or signing bonus question, but I agree - appropriately phrased (and merited) requests are often rewarded.

[JimL]

One must also be careful as to how much to push on getting more.

I have had two candidates (both given 6 figure compensation packages) that have asked for more and when told no, they pushed even harder to the point of being irritating. Ultimately, I hired two others that fit the pay grade and our excellent performers.

[guinness416]

Asking never hurts! When I moved from NYC to Toronto I asked a company I was interviewing with how they would help with relocation, almost as I was out the door. I ended up getting three months free rent (internet access, gym membership, someone to change my bedsheets and all) in a sweet furnished "executive" apartment for that last-minute ask. Some places can push one-off hiring expenses past the higher-ups easier than increased salary.